FIRST HOME BUYER Mortage broker-brisbane

We love helping first home buyers realise their dream of home ownership and guiding them throughout the whole journey.

We understand it is increasingly difficult for First Home Buyers to save for the 20% deposit most banks require. 

If you want to buy a home sooner with less deposit, please speak to our team as you may be eligible for one of the following solutions:

• Some lenders will let you borrow up to 85% of the property's value without paying for Lender's Mortgage Insurance (insurance to cover the bank in the event of a default).
• Apply for the Home Guarantee Scheme and borrow up to 95% of the property's value without paying for LMI. Basic home guarantee scheme eligibility conditions below.
• If you work in the healthcare industry, you may be eligible for an LMI waiver allowing you to borrow 85-95% without paying LMI. 
• Family guarantor - use an immediate family's property as security for your deposit.
• If the solutions above don't apply to you, there is the option to borrow up to 95% property's value if you pay LMI. The LMI cost can be added on to the loan so no upfront LMI cost is required. 

Home Guarantee Scheme Basic Eligibility

• Individual or 2 joint applicants aged 18 years plus
• Income cap: $125,000 for individuals and $200,000 as joint applicants based on latest notice of assessment. 
• Residency: Australian Citizen, Permanent Resident or NZ Citizen with 444 Special Category visa.
• Property for living in as a home
• Purchase property within price caps. For example the cap for QLD capital and regional centres is $700,000 and rest of the state is $550,000.
• More conditions apply.

Specialty Home Loans can help you apply for the scheme and reserve a spot through participating lenders. 

Contact us to see if we can make your dream of home ownership a reality. Specialty Home Loans - Brisbane First Home Buyer Mortgage Brokers.